GRANTS PASS and MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Bridge in Grants Pass and The Orchards in Medford. The properties are approximately 30 miles apart in the southwest corner of the state.
The Bridge was constructed in 2001 and offers independent living and assisted living. The Orchards was built in 2000 and offers assisted living. The communities offer a total of 148 units in a combined 103,455 square feet across 3.6 acres of land.
A local ownership group with only these two seniors housing properties sold the assets. An Oregon-based owner-operator acquired the communities for $17 million.
Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
“The new owner-operator is continuing to expand their footprint and these communities fit in well with their long-term strategic plan,” says Punzel.